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Product info. $ZM was founded by an employee of $CSCO Webex.
Webex has been used by Corporations for a very long time.
Another competitor is $MSFT product called TEAMS.
Companies already have $MSFT Office and Teams is an easy add on.
$CRM bought Slack and doesn't really have a video component but a superior chat, with the ability to call from the computer to another person's computer.
If $ZM would be accretive to earnings, then it would make sense for $CRM to buy it.
Zoom Video Communications Reports Financial Results for the First Quarter of Fiscal Year 2023
May 23 2022 - 04:05PM
Zoom Video Communications, Inc. (NASDAQ: ZM), today announced financial results for the first fiscal quarter ended April 30, 2022.
“In Q1, we launched Zoom Contact Center, Zoom Whiteboard and Zoom IQ for Sales, demonstrating our continued focus on enhancing the customer experience and promoting hybrid work. We believe these innovative solutions will further expand our market opportunity for future growth and expansion with customers,” said Zoom founder and CEO, Eric S. Yuan. “Additionally in Q1, we delivered revenue of over one billion dollars driven by ongoing success in Enterprise, Zoom Rooms, and Zoom Phone, which reached 3 million seats during the quarter. We also maintained strong profitability and cash flow, including 17% in GAAP operating margin, approximately 37% non-GAAP operating margin, approximately 49% operating cash flow margin, and over 46% adjusted free cash flow margin.”
First Quarter Fiscal Year 2023 Financial Highlights:
Revenue: Total revenue for the first quarter was $1,073.8 million, up 12% year over year.
Income from Operations and Operating Margin: GAAP income from operations for the first quarter was $187.1 million, compared to GAAP income from operations of $226.3 million in the first quarter of fiscal year 2022. After adjusting for stock-based compensation expense and related payroll taxes, litigation settlements, net, and acquisition-related expenses, non-GAAP income from operations for the first quarter was $399.6 million, compared to non-GAAP income from operations of $400.9 million in the first quarter of fiscal year 2022. For the first quarter, GAAP operating margin was 17.4% and non-GAAP operating margin was 37.2%.
Net Income and Diluted Net Income Per Share: GAAP net income attributable to common stockholders for the first quarter was $113.6 million, or $0.37 per share, compared to GAAP net income attributable to common stockholders of $227.4 million, or $0.74 per share in the first quarter of fiscal year 2022.
Non-GAAP net income for the first quarter was $315.8 million, after adjusting for stock-based compensation expense and related payroll taxes, litigation settlements, net, losses on strategic investments, net, acquisition-related expenses, undistributed earnings attributable to participating securities, and the tax effects on non-GAAP adjustments. Non-GAAP net income per share was $1.03. In the first quarter of fiscal year 2022, non-GAAP net income was $402.1 million, or $1.32 per share.
Cash and Marketable Securities: Total cash, cash equivalents, and marketable securities, excluding restricted cash, as of April 30, 2022 was $5.7 billion.
Cash Flow: Net cash provided by operating activities was $526.2 million for the first quarter, compared to $533.3 million in the first quarter of fiscal year 2022. Adjusted free cash flow, which is net cash provided by operating activities less purchases of property and equipment, plus litigation settlement payments, net, was $501.1 million, compared to $454.2 million in the first quarter of fiscal year 2022.
Customer Metrics: Drivers of total revenue included acquiring new customers and expanding across existing customers. At the end of the first quarter of fiscal year 2023, Zoom had:
Approximately 198,900 Enterprise customers, up 24% from the same quarter last fiscal year.
A trailing 12-month net dollar expansion rate for Enterprise customers of 123%.
2,916 customers contributing more than $100,000 in trailing 12 months revenue, up approximately 46% from the same quarter last fiscal year.
Financial Outlook: Zoom is providing the following guidance for its second quarter fiscal year 2023 and its full fiscal year 2023.
Second Quarter Fiscal Year 2023: Total revenue is expected to be between $1.115 billion and $1.120 billion and non-GAAP income from operations is expected to be between $360.0 million and $365.0 million. Non-GAAP diluted EPS is expected to be between $0.90 and $0.92 with approximately 308 million non-GAAP weighted average shares outstanding.
Full Fiscal Year 2023: Total revenue is expected to be between $4.530 billion and $4.550 billion. Full fiscal year non-GAAP income from operations is expected to be between $1.480 billion and $1.500 billion. Full fiscal year non-GAAP diluted EPS is expected to be between $3.70 and $3.77 with approximately 309 million non-GAAP weighted average shares outstanding.
Additional information on Zoom's reported results, including a reconciliation of the non-GAAP results to their most comparable GAAP measures, is included in the financial tables below. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future, although it is important to note that these factors could be material to Zoom's results computed in accordance with GAAP.
A supplemental financial presentation and other information can be accessed through Zoom’s investor relations website at investors.zoom.us.
Zoom Video Earnings Call
Zoom will host a Zoom Video Webinar for investors on May 23, 2022 at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss the company’s financial results, business highlights and financial outlook. Investors are invited to join the Zoom Video Webinar by visiting: https://investors.zoom.us/
Zoom earnings beat expectations, stock soars 18% after hours
https://finance.yahoo.com/news/zoom-q1-earnings-2023-194213757.html
This will come back. Thanks
Sorry, don't see that happening again.
You missed the moon back in 2020.
It rallied from $100 in April 2020 and peaked at $588 in October 2020 and has fallen like a rock ever since.
Under $200 is pretty sad for a high flyer at $588 15 months ago.
Sold my 1,000 shares a long time ago and moved on.
Good luck to you.
ZM Metaverse $250
The problem is that Zoom is limited in their functions, thereafter you have to pay.
There are many new possibilities now : Teams / Google Meet , even Whatsapp and Messenger...
The only good thing is that the corporation has new products, but most investors go for other stocks now... even some investor magazines ( like Fool ) replaced them with better companies for the future
Correction: Peloton (PTON) - sorry
budget: Looks like we made the right moves. Another at-home stock I own is PLTN (Peleton) not acting as well as ZM, but u might want to check it out. I call them my COVID stocks
Luv ZM
No problem, Catty……
It was a thought that isn’t nearly as good as holding onto Zoom for infinity squared.
$$ ZM $$
budget: got your PM - can't answer, am not subscribed. good luck
budget: Interesting that u also sold. I was getting tired of the hype. too much. I feel we're in much more solid stocks.. Best to u and Magik
Hi Catty !
Great to hear from you…….I’m out of the ones you mentioned, also.
I believe we gave a good one here with Zoom at these levels.
Let’s hold on and make some $$$.
All the best to you and Jamie from me and Magik, the wonder-horse…..!
Budget: PS ... sold mainly to reduce my margin debit.
budgetthis: Hi -looks like we're in a lot of the same stocks. However I sold all my VLD and PLTR. Good luck with your holding on.
Am holding my TSLA and ZM. Best
Excellent !!!!
I hear Santa uses Zoom…….which is good for us “good” investors……lol.
Let’s Zoom right on into 2022……..
$$ ZM $$
Or it begins. (for me)
Just entering the stock on a slow build. A little here a little there, then I think I'll Zoom my kids and let them all know they are new shareholders. ;)
The “ Zoom Zoom “ continues……lol.
I’m thinking we hit our bottom today……
So in honor of this auspicious occasion I bought some December 10th, $180 calls……so far so good…..lol.
Have a great weekend, everyone.
Zoom Zoom …….
Still think it's overvalued.
I’m still patiently waiting for a bottom...
not zero but whomever paid over $400 and $500, well, that wont be seen again anytime soon, if ever
Going to zero I suppose..
Wow. A good call and spot on..well done
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